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Recession averted ?: Minimal economic growth: Federal Office submits details

2019-11-22T03:19:40.420Z

TIME ONLINE | News, backgrounds and debates



Wiesbaden (AP) - The fear of a financial crash seems banished for the time being: According to preliminary calculations, the performance of the German economy in the third quarter of 2019 compared to the previous quarter grew slightly by 0.1 percent.

Today, the Federal Statistical Office wants to announce details of the economic development from July to September.

In the second quarter, Germany's economic output had shrunk by 0.2 percent. Many economists had then expected a further decline. However, due to the surprising increase in the summer, Europe's largest economy is now narrowly bypassing a "technical recession" - ie two quarters with falling gross domestic product (GDP) in a row.

Among other things, the German economy is affected by the gloomy global economy, a flagging automobile industry, but also by political uncertainties such as the impending Brexit. Forecasts for the full year 2019 have been scaled back in series in recent months. Economic growth of about 0.5 percent is now expected. By 2018, German economic output had risen by 1.5 percent.

Federal Statistical Office on GDP

Source: zeit

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